19B-16.007: Change of Designated Beneficiary
PURPOSE AND EFFECT: Provides that the contingent benefactor also must authorize changes of the designated beneficiary for Investment Plan accounts established on or after February 1, 2009. Conforms this rule to the changes to Rule 19B-16.008, F.A.C.
SUBJECT AREA TO BE ADDRESSED: The requirements to change the designated beneficiary of a Florida College Investment Plan.
SPECIFIC AUTHORITY: 1009.971(1), (4), (6) FS.
LAW IMPLEMENTED: 1009.981 FS.
IF REQUESTED IN WRITING AND NOT DEEMED UNNECESSARY BY THE AGENCY HEAD, A RULE DEVELOPMENT WORKSHOP WILL BE HELD AT THE DATE, TIME AND PLACE SHOWN BELOW:
TIME AND DATE: September 29, 2008, 2:00 p.m.
PLACE: Suite 210, Hermitage Building, 1801 Hermitage Boulevard, Tallahassee, Florida
THE PERSON TO BE CONTACTED REGARDING THE PROPOSED RULE DEVELOPMENT AND A COPY OF THE PRELIMINARY DRAFT, IF AVAILABLE, IS: Thomas J. Wallace, Executive Director, 1801 Hermitage Boulevard, Suite 210, Tallahassee, Florida 32308, telephone (850)488-8514
THE PRELIMINARY TEXT OF THE PROPOSED RULE DEVELOPMENT IS:
19B-16.007 Change of Designated Beneficiary.
Except when a participation agreement is established by a benefactor functioning in a custodial capacity, a benefactor may change the designated beneficiary may be changed to any member of the family of the then-current designated beneficiary, at any time, by submitting a written, notarized request signed by the benefactor directing the Board to change the designated beneficiary for the account. If the account was established on or after February 1, 2009, such request also must include the notarized signature of the contingent benfactor.
Specific Authority 1009.971(1), (4), (6) FS. Law Implemented 1009.981 FS. History–New 5-30-02, Amended________.